Massachusetts issues guidance regarding tax amnesty program

The Massachusetts Department of Revenue has released guidance explaining the information that taxpayers need to know about the tax amnesty program, which will take place during the months of September and October 2014. Under the program, penalties will be waived for taxpayers who pay their outstanding taxes and interest in full. Tax amnesty notices showing the tax and interest due, along with the penalties to be waived, will be mailed on September 2, 2014, to taxpayers who qualify for the program. If taxpayers pay the tax and interest shown on the bill on or before October 31, 2014, the Commonwealth will waive the unpaid penalties for the period. The amnesty only applies to assessments that were on the books prior to July 1, 2014. The tax types that are eligible for the amnesty period include withholding.

Subscribers can view the guidance at http://www.mass.gov/dor/breaking-news/what-you-need-to know-about-the-tax-amnesty-program.html. (What You Need to Know About the Tax Amnesty Program, Massachusetts Department of Revenue, July 21, 2014.)

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